The US census data is out and the information on the fastest and slowest growing states has finally arrived. This gives state governments a chance to compare records and mark their progress. Continue reading below to find out which 5 states have residents with the fastest growing income, according to the Bureau of Economic Analyses.
Georgia grew personal income at 5.3% last year. It is growing its economy in several ways including diversifying its economic base, growing population and focusing on robust sectors of the economy. Georgia is the leader of the “new South” along with Florida, Tennessee, North Carolina and South Carolina that are growing quicker than other Southern states. These states are attracting immigrants from abroad as well as domestic new arrivals from Northern states seeking cheaper housing, better weather and faster economic growth. Atlanta boasts an impressive economic hub with Fortune 500 companies including Home Depot and Coke. Still, the region is growing due to increasing manufacturing capacity, high growth companies and health care.